First Solution Technologies Limited - Accounts to registrar (filleted) - small 18.2

First Solution Technologies Limited - Accounts to registrar (filleted) - small 18.2

EMERGE DIGITAL LIMITED - Company Information

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REGISTERED NUMBER: 04491556 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2020

for

FIRST SOLUTION TECHNOLOGIES LIMITED
FIRST SOLUTION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04491556)

Contents of the Financial Statements
for the Year Ended 31 July 2020










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


FIRST SOLUTION TECHNOLOGIES LIMITED

Company Information
for the Year Ended 31 July 2020







DIRECTORS: N C Church
Mrs L M Church





SECRETARY: C N Boyd MA FCA





REGISTERED OFFICE: Montpellier House
Montpellier Drive
Cheltenham
Gloucestershire
GL50 1TY





REGISTERED NUMBER: 04491556 (England and Wales)





ACCOUNTANTS: Boyds
20 Sansome Walk
Worcester
WR1 1LR
Page 1
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
First Solution Technologies Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of First Solution Technologies Limited for the year ended 31 July 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of First Solution Technologies Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of First Solution Technologies Limited and state those matters that we have agreed to state to the Board of Directors of First Solution Technologies Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Solution Technologies Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that First Solution Technologies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of First Solution Technologies Limited. You consider that First Solution Technologies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of First Solution Technologies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Boyds
20 Sansome Walk
Worcester
WR1 1LR


Date: .............................................

This page does not form part of the statutory financial statements

Page 2
FIRST SOLUTION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04491556)

Balance Sheet
31 July 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,337 32,706

CURRENT ASSETS
Stocks 4,089 3,833
Debtors 5 149,931 202,307
Prepayments and accrued income 44,154 62,142
Cash at bank and in hand 178,036 29,908
376,210 298,190
CREDITORS
Amounts falling due within one year 6 229,661 215,250
NET CURRENT ASSETS 146,549 82,940
TOTAL ASSETS LESS CURRENT
LIABILITIES
184,886
115,646

CREDITORS
Amounts falling due after more than one
year
7
(43,666
)
(2,852
)

PROVISIONS FOR LIABILITIES (7,203 ) (6,214 )
NET ASSETS 134,017 106,580

CAPITAL AND RESERVES
Called up share capital 800 800
Retained earnings 133,217 105,780
SHAREHOLDERS' FUNDS 134,017 106,580

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2021 and were signed on its behalf by:



N C Church - Director


The notes form part of these financial statements

Page 3
FIRST SOLUTION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04491556)

Notes to the Financial Statements
for the Year Ended 31 July 2020


1. STATUTORY INFORMATION

First Solution Technologies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2019 - 13 ) .

Page 4 continued...
FIRST SOLUTION TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04491556)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2020


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2019 78,728
Additions 13,608
At 31 July 2020 92,336
DEPRECIATION
At 1 August 2019 46,022
Charge for year 7,977
At 31 July 2020 53,999
NET BOOK VALUE
At 31 July 2020 38,337
At 31 July 2019 32,706

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 130,379 176,096
Other debtors 230 325
Directors' current accounts 2,141 -
Tax 17,181 25,886
149,931 202,307

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 10,000 -
Hire purchase contracts 5,733 12,439
Trade creditors 99,212 119,961
Social security and other taxes 10,229 14,917
VAT 89,696 33,191
Directors' current accounts - 250
Accruals and deferred income 3,413 9,203
Accrued expenses 11,378 25,289
229,661 215,250

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020 2019
£    £   
Bank loans - 1-2 years 40,000 -
Hire purchase contracts 3,666 2,852
43,666 2,852

8. ULTIMATE CONTROLLING PARTY

The controlling party is N C Church.

Page 5